First Global Credit Stock News Roundup – 11th January

Date : January 11, 2016

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The latest news round up for trade-able items on the First Global Credit platform, covering:

3M Co

Bitcoin

LinkedIn

Salesforce.com

Time Warner Cable

3M Co (NYSE:MMM)

New England Research & Management boosted its position in shares of 3M Co by 10.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,793 shares of the company’s stock after buying an additional 750 shares during the period. 3M accounts for approximately 1.0% of New England Research & Management’s portfolio, making the stock its 25th largest position. New England Research & Management’s holdings in 3M were worth $1,174,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MMM. Community Bank & Trust of Waco, Texas acquired a new stake in shares of 3M during the fourth quarter worth $883,000. Founders Capital Management raised its stake in shares of 3M by 0.4% in the fourth quarter. Founders Capital Management now owns 1,900 shares of the company’s stock worth $286,000 after buying an additional 8 shares in the last quarter. Curbstone Financial Management raised its stake in shares of 3M by 98.2% in the fourth quarter. Curbstone Financial Management now owns 10,934 shares of the company’s stock worth $1,647,000 after buying an additional 5,417 shares in the last quarter. First American Trust acquired a new stake in shares of 3M during the fourth quarter worth $204,000. Finally, Southport Capital Management raised its stake in shares of 3M by 0.4% in the fourth quarter. Southport Capital Management now owns 12,546 shares of the company’s stock worth $1,890,000 after buying an additional 49 shares in the last quarter.

3M Co opened at 140.49 on Monday. The firm’s 50-day moving average price is $152.51 and its 200-day moving average price is $150.43. 3M Co has a 52 week low of $134.00 and a 52 week high of $170.50. The stock has a market cap of $86.50 billion and a PE ratio of 18.16.

Bitcoin users have reported problems with buying and selling bitcoin using their bank accounts for some time, and based on a recent Merkle blog, the problem continues, notably in the United Kingdom. The blog doesn’t name any banks that are creating the problems.

Banks can close accounts with little notice, the blog noted, and moving the funds out of a closed account can be challenging.
The banks are reportedly taking these actions when the customer buys or sells bitcoin using their bank account. A transaction with a message field that includes the word “bitcoin” can alert the bank to take action.

Banks can also become alarmed when a customer adds a debit card linked to a Coinbase account to their bank account.

All banks are not taking these actions. The Merkle claimed that various smaller banks are less inclined to take such actions than larger banks.

One recent Reddit post noted a problem with Lloyds, a major U.K.-based bank. The customer noticed Lloyds blocked a bitcoin transactions when they started using their debit card on Coinbase. When the customer called Lloyd’s customer support and explained the situation, Lloyd’s unblocked the transaction but said previously-blocked transactions would not go through since they were buying digital assets that might cause issues with Coinbase.

LinkedIn was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They presently have a $239.31 target price on the social networking company’s stock. Vetr‘s target price suggests a potential upside of 10.84% from the company’s previous close.

A number of other brokerages have also recently issued reports on LNKD. MKM Partners upped their price target on shares of LinkedIn Corp from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 10th. They noted that the move was a valuation call. Piper Jaffray reiterated an “overweight” rating and issued a $287.00 price target (up previously from $240.00) on shares of LinkedIn Corp in a research note on Thursday, November 5th. Citigroup Inc. upped their price target on shares of LinkedIn Corp from $240.00 to $271.00 in a research note on Friday, November 13th. RBC Capital reiterated a “buy” rating on shares of LinkedIn Corp in a research note on Wednesday, November 11th. Finally, Brean Capital reiterated a “hold” rating on shares of LinkedIn Corp in a research note on Monday, November 2nd. Seven research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $274.88.

Salesforce.com’s stock had its “buy” rating restated by investment analysts at JPMorgan Chase & Co. in a report released on Friday.

Several hedge funds have added to or reduced their stakes in the stock. Jennison Associates boosted its stake in salesforce.com by 3.7% in the third quarter. Jennison Associates now owns 19,768,305 shares of the CRM provider’s stock valued at $1,372,513,000 after buying an additional 709,394 shares during the last quarter. Terra Nova Asset Management boosted its stake in salesforce.com by 365.7% in the third quarter. Terra Nova Asset Management now owns 33,160 shares of the CRM provider’s stock valued at $2,302,000 after buying an additional 26,040 shares during the last quarter. KSA Capital Management acquired a new stake in salesforce.com during the third quarter valued at $1,736,000. ING Groep acquired a new stake in salesforce.com during the third quarter valued at $1,267,000. Finally, KBC Group boosted its stake in salesforce.com by 13.3% in the third quarter. KBC Group now owns 87,310 shares of the CRM provider’s stock valued at $6,062,000 after buying an additional 10,249 shares during the last quarter.

Several other research firms have also recently commented on CRM. Brean Capital reiterated a “buy” rating and set a $86.00 target price on shares of salesforce.com in a research note on Monday, September 14th. Zacks Investment Research upgraded shares of salesforce.com from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Thursday, October 15th. Wunderlich reiterated a “buy” rating and set a $85.00 target price on shares of salesforce.com in a research note on Wednesday, September 16th. Vetr cut shares of salesforce.com from a “buy” rating to a “hold” rating and set a $77.47 target price for the company in a research note on Wednesday, December 30th. Finally, MKM Partners reiterated a “buy” rating on shares of salesforce.com in a research note on Monday, January 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and forty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $87.03.

CT Financial Advisors maintained its position in shares of Time Warner Cable Inc during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211 shares of the cable operator’s stock at the end of the fourth quarter. CT Financial Advisors’ holdings in Time Warner Cable were worth $39,159 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gerstein Fisher purchased a new position in Time Warner Cable during the third quarter worth approximately $241,000. Harvest Management increased its position in Time Warner Cable by 37.9% in the third quarter. Harvest Management now owns 20,000 shares of the cable operator’s stock worth $3,587,000 after buying an additional 5,500 shares in the last quarter. ING Groep increased its position in Time Warner Cable by 2,399.0% in the third quarter. ING Groep now owns 99,960 shares of the cable operator’s stock worth $17,967,000 after buying an additional 95,960 shares in the last quarter. Finally, Water Island Capital purchased a new position in Time Warner Cable during the third quarter worth approximately $44,787,000.

Time Warner Cable Inc traded up 0.95% during midday trading on Friday, hitting $182.93. The stock had a trading volume of 2,114,400 shares. The company has a market cap of $51.81 billion and a P/E ratio of 27.35. The stock’s 50-day moving average is $183.71 and its 200-day moving average is $185.65. Time Warner Cable Inc has a one year low of $134.21 and a one year high of $194.22.

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